SPO Sportech Plc

TIDMSPO

RNS Number : 4374J

Sportech PLC

27 April 2022

 
   27 April 2022 
 

Sportech PLC

('Sportech' or the 'Company')

Statement re Capital Distribution to Shareholders

Sportech PLC declares a distribution of 7.0 pence per share in cash amounting to, in aggregate, GBP7,000,000 (the 'Distribution').

The Company is able to conduct the Distribution following the successful sale of the terrestrial lottery business, 'Dominican Republic Lottery contract', announced in January 2022 for GBP9.25 million gross, whilst retaining capital to finance organic growth opportunities.

The shares will be marked ex-dividend on Thursday May 5(th) 2022, and the Distribution will be made to those shareholders on the register on Friday 6(th) May 2022 (the record date). Payment will be Tuesday 31(st) May 2022.

Richard McGuire, Non-Executive Chairman of Sportech, said: "Management's successful sale of the terrestrial lottery business facilitated this GBP7 million shareholder distribution taking the total returned to investors in the last 9 months to GBP42.5 million. In 2017, the Company eliminated its debt and returned GBP75 million to shareholders in buybacks and distributions and we are delighted to continue this theme. The balance sheet is strong and executive management continue to drive an absolute performance strategy on behalf of investors."

- Ends -

Contacts:

 
Sportech PLC                       enquiries@sportechplc.com 
 Richard McGuire, Non-Executive 
 Chairman 
 Andrew Lindley, Chief Executive 
 Officer 
 Nicola Rowlands, Chief Financial 
 Officer 
 Peel Hunt (Nominated Adviser &     Tel: +44 (0) 20 7418 8900 
  Broker) 
  George Sellar 
  Andrew Clark 
  Lalit Bose 
 

Information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Notes to Editors:

About Sportech

Sportech is a technology supplier and operator in the gambling market with two core businesses: A digital omni channel platform for gaming verticals including its own in-house lottery module as its B2B offering. In B2C, the Company operates Sports Bars and other venues in the State of Connecticut USA where it deploys its exclusive licence to offer pari-mutuel wagering in the State and a distribution agreement with the Connecticut Lottery Corporation to offer sports betting in the State. It also has the exclusive licence to operate pari-mutuel betting online in Connecticut, which it does under the MyWinners.com brand, and a general licence for pari-mutuel betting online across the wider USA under the 123Bet.com brand.

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END

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April 27, 2022 02:00 ET (06:00 GMT)

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